Lot only mobile home park analysis

[John Kim]

I'm looking at mobile home park in rural Ohio at $338,000 and interested any opinions/comments. What do you guys think?

Asking Price: $338,000

Town Pop: 16,297

Year Built: 1950

# of Lots: 36

Total Occupancy: 32

Avg MH Lot Rent: $150

# of POH: 0

Water: City

Sewer: City

Water Paid by: Tenant

Trash Paid by: Park Provided

Year Built: 1950

Size: 3.0 arces

The mobile home park is in a small town and all of the mobile homes are tenant owned are pretty old (1960's or so). The tenants are all long term residents. The trash comes out to be around $3500 a year. There's no amenities at the park though there is a laundromat next door. There's 3 abandon trailers in the park.